Koenigsberg of American Investment Props. sells Rachel's Shopping Center for $3.275m

Ron Koenigsberg of American Investment Properties exclusively represented the sale of the Rachel's Shopping Center. The sale price was $3.275 million. The shopping center, located at 55-69 Berry Hill Rd., is next door to the Mim's shopping center which Koenigsberg brokered in 1998. The newly constructed 6,748 s/f center features seven tenants that include Rachel's Café, Casa Bella Restaurant, Marlene's Place clothing store, Pinky's Nails, a cleaners, a hair salon, and a real estate office. The property is located on the "Gold Coast" of Long Island's north shore. The Rachel's Shopping Center features parking in the front of the property. The seller, a local owner turned over the deed to a New York City owner and developer. According to recent data, the average price per s/f for retail centers in New York is $245.09. Since 2001, American Investment Properties Inc. has participated in the sales of over $250 million dollars in commercial property transactions throughout the Long Island area.